Barack Obama: 'These cuts are not smart' – video

Speaking during his weekly address from the White House, the US president makes clear his disappointment that the sequester – a round of spending cuts – will go ahead. He describes the savings, which will total $85bn, as 'the last thing' needed as America struggles to put 'the worst economic crisis of our lifetime' behind it. He warns of a 'ripple effect' across the economy caused by cutbacks to military spending